Where the Money Is for Small Businesses

Check with your mayor’s or governor’s office for resources and updates.

Companies, Crowdfunding and Foundations

Governments are not the only ones helping out. Foundations, websites and other entrepreneurs have jumped in. Here are a few:

Local Chambers of Commerce are also supporting their small-business owners. The U.S. Chamber of Commerce Foundation has a state-by-state guide that outlines the different loans, grants and funds that state and local governments — as well as private organizations — are offering.

Hello Alice, a platform that helps entrepreneurs connect with other business owners, government resources, potential funders and mentors, is offering $10,000 grants to small businesses, supplied by Silicon Valley Bank, the eBay Foundation, UBS and other partners. The first rounds are complete, but the group will provide more rounds of funding through July 16.

The Red Backpack Fund, which is backed by Sara Blakely, the founder of Spanx, is donating $5,000 grants to 1,000 female entrepreneurs. The fund is accepting applications in cycles. The first started June 1; future cycles will begin on July 6 and Aug. 3.

The LISC Small Business Relief Grants program offers up to $10,000 to small businesses affected by Covid-19, especially entrepreneurs of color, women-owned businesses and other enterprises that don’t have access to flexible, affordable capital. The program is funded by Verizon, Sam’s Club and others. Its next application round is scheduled to open on June 11.

GoFundMe, the fund-raising platform, has started the Small Business Relief Initiative, partnering with Yelp, Intuit QuickBooks, Bill.com and GoDaddy to provide owners with grants and resources. GoFundMe, QuickBooks and Yelp have each donated $500,000 to the Small Business Relief Fund, and it is open for anyone to make a donation. There will also be $500 matching grants to qualifying businesses that raise at least $500 on GoFundMe.

IFundWomen, a crowdfunding platform, is giving microgrants to women-run businesses, issued on a rolling basis. “Start a campaign” to be considered for a Covid-19 relief grant.

Article source: https://www.nytimes.com/2020/06/11/business/grant-loans-small-businesses.html